QuickBooks questions? Ask our experts

Being a small business owner is never easy. But these days, tax changes and new regulations make it even more difficult to stay ahead of the game.

One tool many entrepreneurs have turned to is QuickBooks, the bookkeeping software from Intuit designed specifically for small business.

Among the software's many features are options for creating customized invoices with company logos, tracking sales and expenses and managing customer, vendor and employee data. It also offers opportunities for managing bills and online banking.

Small businesses can use QuickBooks Pro or QuickBooks Premier as a data hub for storing their vital details, including customer information, inventory specifics and income and expense reports.

The software can also help busy business owners make sure they are complying with new IRS regulations.

For example, the IRS is increasingly focusing on 1099s - the form used to report various types of income other than the wages, salaries and tips reported on form W-2. But many small businesses don't have the ability to track which vendors they have paid an amount that requires filing. With a QuickBooks system in place, that information is readily available at the end of the year.

The software can also help with payroll, according to Ann Carroll, director of business development and marketing for the Savannah accounting firm Hancock Askew & Co.

"This is especially helpful with the expiration of the payroll tax holiday," she said. "In fact, if you were already a QuickBooks payroll user, it would have automatically made these changes for you."

In this economy, many people are starting small businesses on the side, Carroll said.

"They are finding that QuickBooks is a low-cost, user-friendly way to track transactions and perform other essential business functions."

With that in mind, the Savannah Morning News and savannahnow.com will sponsor a call-in session on QuickBooks from 9:30-11 a.m. on Wednesday. Four small-business specialists from Hancock Askew will be available to answer your specific questions about the popular software program.

Among the questions our experts anticipate:

• It's the beginning of the year and I've never had a bookkeeping system before, where and how do I start?

• My QuickBooks system is a mess and I'm not getting anything out of it. Should I clean it up or start over?

• Can I (and should I) keep my inventory on QuickBooks?

• Can I keep my Accounts Receivable on QuickBooks?

• How do I customize a report?

Experience has shown them that there is tremendous interest in using QuickBooks, Carroll said.

"We've held a four-week series of free QuickBooks classes in October and November for the past four years in our Savannah office," she said. "Each year, we've had to open a second date to accommodate the overwhelming response.

"QuickBooks has very quickly become the industry standard because it is easy to use. Some business owners just use the basics, tracking money as it flows in and out of their businesses, while other owners delve into the more sophisticated features that help them run their business. It works well in either scenario.

"This call-in day is the perfect opportunity for those who attended a previous QuickBooks session but have had questions come up since, or for those who have a specific question and need a quick answer."

John Swanner agreed.

"QuickBooks is the first step for entrepreneurs to get a handle on their business," said Swanner, a QuickBooks Pro advisor who will be available for the call-in.

"It's a bookkeeping system, but it can be so much more," he said. "I enjoy helping people realize the full potential of QuickBooks.

"There is a wealth of valuable information they can glean from this software to help their bottom line. I am hoping that we get some questions during the call-in that will allow me to open that door for business owners."

Neville Stein, a Hancock Askew partner who also will be available to take questions, said his firm has tailored QuickBooks for micro businesses, small start-up businesses, emerging businesses and established small businesses in just about every business type from churches to retail, nonprofits to manufacturers.

"We are looking forward to Wednesday and hope to answer questions that small and emerging businesses may have on any subject, even those unrelated to QuickBooks," he said.

THE EXPERTS

NEVILLE STEIN, CPA: Partner

Neville specializes in tax preparation and business consulting and planning. He has worked with QuickBooks for more than 20 years, teaching the software to hundreds of users in class environments and small groups.

JOHN D. SWANNER, CPA: Senior Tax Manager

A QuickBooks consultant and trainer, John has been serving clients for more than 16 years in the areas of tax, small business and management services. He works with individuals, corporations and partnerships in a variety of industries.

TREY BROOKS, CPA: Senior Accountant

Trey joined Hancock Askew four years ago. His areas of specialization include governmental accounting consulting, individual and small business tax planning, as well as capital improvement and depreciation. He is a QuickBooks Pro advisor.

BRITTANY L. RIDDICK: Staff Accountant

Brittany joined Hancock Askew last year upon graduation from Georgia Southern University. She has experience in preparing individual, partnership and corporate tax returns, as well as 401(k) audits and financial statements. She is a QuickBooks Pro advisor.

HOW TO PARTICIPATE

WHAT: Four accountants from Hancock Askew & Co. will be available to help answer your QuickBooks questions.

WHEN: 9-11:30 a.m. Wednesday

CALL: 912-525-0766. Calls will be answered in the order received. Selected questions and answers will be published in the Savannah Morning News on Sunday, Feb. 3.

CAN'T CALL IN WEDNESDAY? Email your questions to acarroll@hancockaskew.com by 9 a.m. Wednesday. The advisors will answer as many of the emailed questions as space allows in Sunday's paper.